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Amanda Cassatt, founder and CEO of web3 marketing company Serotonin, emphasizes the importance of being skeptical about crypto marketing. Cassatt warns that crypto marketing can pave the way for the spread of scams and frauds, and says investors should not blindly trust marketing strategies.
“Marketing is a mechanism for fraud to occur. So I think people need to be very skeptical and always do their own research,” Cassatt told Cointelegraph at the Token2049 event in Singapore.
Cassatt, who stated that investors at all levels should adopt this skeptical perspective, recommends that both experienced and new investors always do their own research to understand the technology or product they will be using.
Cassatt, who stated that PR firms have also taken a more meticulous stance in recent years, said that these companies have now had to be more careful and conduct more in-depth reviews to make sure they are working with legitimate projects. Cassatt added that they usually evaluate projects by getting a second opinion from venture capitalists and angel investors, and stated that leading investment firms play an important role in this process.
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Cassatt also emphasized that PR firms evaluate not only the legitimacy of the projects, but also whether the team is strong and their potential to make the project successful.
Referring to the involvement of celebrities in crypto projects, Cassatt stated that the reason why such collaborations are interesting is that the brands of celebrities are not usually associated with technology or crypto. For example, he gave the impact created by rapper Iggy Azalea with her Solana-based token $Mother as an example of this situation.
The collapse of crypto projects can affect not only directors and employees, but also external companies such as marketing agencies. For example, after the crash of the FTX exchange in November 2022, some YouTube influencers were included in a class action lawsuit for $1 billion for promoting the exchange.
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